The PNC Financial Services Group (NYSE:PNC – Free Report) had its target price trimmed by UBS Group from $288.00 to $286.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.
Several other research analysts also recently issued reports on PNC. Oppenheimer upped their price target on shares of The PNC Financial Services Group from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Citigroup raised their price objective on shares of The PNC Financial Services Group from $280.00 to $290.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of The PNC Financial Services Group in a research report on Wednesday, July 15th. Morgan Stanley upped their target price on shares of The PNC Financial Services Group from $267.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Finally, Robert W. Baird raised their price target on shares of The PNC Financial Services Group from $250.00 to $280.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Moderate Buy” and an average price target of $268.35.
Read Our Latest Research Report on The PNC Financial Services Group
The PNC Financial Services Group Price Performance
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The firm had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.51 billion. During the same period last year, the firm posted $3.85 EPS. The business’s revenue was up 21.4% on a year-over-year basis. On average, research analysts anticipate that The PNC Financial Services Group will post 19.23 earnings per share for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Wednesday, October 14th will be given a dividend of $2.00 per share. The ex-dividend date is Wednesday, October 14th. This represents a $8.00 dividend on an annualized basis and a yield of 3.6%. The PNC Financial Services Group’s dividend payout ratio is presently 44.03%.
Insider Activity at The PNC Financial Services Group
In other news, EVP Stacy Juchno sold 3,354 shares of The PNC Financial Services Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $255.84, for a total transaction of $858,087.36. Following the completion of the sale, the executive vice president owned 18,800 shares in the company, valued at $4,809,792. The trade was a 15.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On The PNC Financial Services Group
A number of hedge funds and other institutional investors have recently bought and sold shares of PNC. BlackRock Inc. acquired a new position in shares of The PNC Financial Services Group in the 2nd quarter valued at $7,921,455,000. State Street Corp increased its holdings in The PNC Financial Services Group by 4.3% in the second quarter. State Street Corp now owns 18,434,446 shares of the financial services provider’s stock valued at $4,538,929,000 after purchasing an additional 765,097 shares during the last quarter. Bank of America Corp DE acquired a new position in The PNC Financial Services Group in the second quarter valued at about $2,102,631,000. Deutsche Bank AG acquired a new position in The PNC Financial Services Group in the second quarter valued at about $1,054,189,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in The PNC Financial Services Group by 1.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,607,786 shares of the financial services provider’s stock worth $888,309,000 after buying an additional 39,112 shares during the last quarter. 83.53% of the stock is owned by institutional investors.
The PNC Financial Services Group Company Profile
The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania. Through its banking and financial services businesses, PNC serves consumers, small and mid-sized businesses, corporations, government entities and institutional clients across the United States.
PNC’s principal activities include retail banking, corporate and institutional banking, and asset management. Its products and services include deposit accounts, consumer and business lending, mortgages, credit cards, treasury management, investment banking, commercial finance, wealth management and investment advisory services.
See Also
- Five stocks we like better than The PNC Financial Services Group
- Constellation Energy’s Google Deal Shows Why Nuclear Uprates Matter for AI
- Lamb Weston’s Turnaround Is Starting to Look Real
- These 3 Stocks Got the Most Love From Analysts in September
- Record French Debt Could Create Opportunities for U.S. Market Operators
Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.
